Fixed Asset Bill Credits
When a vendor issues a refund or credit for a previously capitalized asset (for example, returned equipment or an invoice correction), you can record a bill credit in Rillet. This reduces the asset’s value and updates the general ledger automatically.
Record a Bill Credit for a Fixed Asset
You can create a bill credit directly from the original asset bill. This ensures that depreciation and accounting updates remain consistent with your records.
Go to Accounts Payable > Bills.
Locate the bill tied to the fixed asset you want to credit and click the three dots (…) next to the bill.
Select Bill Credit.
In the pop-up window, enter the credit amount and set the applicable date.
Click Save.
Understand the Accounting and Depreciation Impact
After a credit is applied, Rillet will automatically adjust the asset’s book value and future depreciation schedule.
The asset will show as Partially Credited, and the credit will display automatically in the GL Impact.
Rillet factors the bill credit into all future depreciation calculations.
The remaining asset value is reduced by the credit amount, and depreciation adjusts accordingly from the credit date forward.
Note: Ensure the credit amount and date are correct before saving, as this will immediately affect depreciation and financial reporting.
See Also
For more fixed asset management workflows, see the following articles:
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